IEMG vs. SCFIX
IEMG (iShares Core MSCI Emerging Markets ETF) and SCFIX (Shenkman Capital Short Duration High Income Fund) are both funds - IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while SCFIX is a High Yield Bonds fund managed by Shenkman Funds. Over the past 10 years, IEMG returned 10.42%/yr vs 4.39%/yr for SCFIX. At a 0.40 correlation, their price movements are largely independent. IEMG charges 0.09%/yr vs 0.67%/yr for SCFIX.
Performance
IEMG vs. SCFIX - Performance Comparison
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Returns By Period
In the year-to-date period, IEMG achieves a 22.84% return, which is significantly higher than SCFIX's 1.42% return. Over the past 10 years, IEMG has outperformed SCFIX with an annualized return of 10.42%, while SCFIX has yielded a comparatively lower 4.39% annualized return.
IEMG
- 1D
- 0.61%
- 1M
- 0.34%
- YTD
- 22.84%
- 6M
- 25.59%
- 1Y
- 44.83%
- 3Y*
- 21.33%
- 5Y*
- 7.15%
- 10Y*
- 10.42%
SCFIX
- 1D
- 0.20%
- 1M
- 0.34%
- YTD
- 1.42%
- 6M
- 1.92%
- 1Y
- 5.23%
- 3Y*
- 6.61%
- 5Y*
- 4.43%
- 10Y*
- 4.39%
IEMG vs. SCFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 22.84% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
SCFIX Shenkman Capital Short Duration High Income Fund | 1.42% | 7.02% | 6.11% | 9.24% | -2.52% | 5.08% | 3.36% | 7.61% | 0.85% | 3.54% |
Correlation
The correlation between IEMG and SCFIX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.40 |
The correlation between IEMG and SCFIX shifts across timeframes, from 0.40 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEMG vs. SCFIX — Risk / Return Rank
IEMG
SCFIX
IEMG vs. SCFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and Shenkman Capital Short Duration High Income Fund (SCFIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IEMG | SCFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.76 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 4.62 | -1.38 |
| Martin ratioReturn relative to average drawdown | 11.89 | 24.75 | -12.86 |
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Drawdowns
IEMG vs. SCFIX - Drawdown Comparison
The maximum IEMG drawdown since its inception was -38.71%, which is greater than SCFIX's maximum drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for IEMG and SCFIX.
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Drawdown Indicators
| IEMG | SCFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.71% | -13.08% | -25.63% |
Max Drawdown (1Y)Largest decline over 1 year | -13.21% | -1.11% | -12.10% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -1.72% | -15.49% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | -6.30% | -29.45% |
Max Drawdown (10Y)Largest decline over 10 years | -38.71% | -13.08% | -25.63% |
Current DrawdownCurrent decline from peak | -3.98% | 0.00% | -3.98% |
Average DrawdownAverage peak-to-trough decline | -12.95% | -0.51% | -12.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 0.21% | +3.38% |
Volatility
IEMG vs. SCFIX - Volatility Comparison
iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 10.60% compared to Shenkman Capital Short Duration High Income Fund (SCFIX) at 0.48%. This indicates that IEMG's price experiences larger fluctuations and is considered to be riskier than SCFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMG | SCFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.60% | 0.48% | +10.12% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 1.30% | +17.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.08% | 1.64% | +19.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 2.77% | +15.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 3.28% | +16.89% |
IEMG vs. SCFIX - Expense Ratio Comparison
IEMG has a 0.09% expense ratio, which is lower than SCFIX's 0.67% expense ratio.
Dividends
IEMG vs. SCFIX - Dividend Comparison
IEMG's dividend yield for the trailing twelve months is around 2.24%, less than SCFIX's 5.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 2.24% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
SCFIX Shenkman Capital Short Duration High Income Fund | 5.32% | 5.54% | 5.85% | 5.21% | 3.86% | 4.93% | 3.24% | 3.78% | 3.87% | 3.09% | 3.07% | 3.38% |
Frequently Asked Questions
IEMG and SCFIX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEMG has higher volatility (10.60%) compared to SCFIX (0.48%). In terms of maximum drawdown, IEMG dropped -38.71% vs SCFIX's -13.08%.
SCFIX currently has the higher Sharpe Ratio (3.13 vs 2.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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